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Default Fiduciary Duties Coming for Delaware LLCs
Posted on 12 Apr 2013 by Brian JM Quinn

There has been a back and forth between the Chancery Court and the Delaware Supreme Court about whether there are default fiduciary duties for LLCs. The Chancery Court takes the position that there are default fiduciary duties, though you may contract... Read More

Delaware Supreme Court Upholds Chancery Decision but Rejects Dicta on Default Fiduciary Duties in LLCs
Posted on 13 Nov 2012 by Francis G.X. Pileggi

Gatz Properties LLC v. Auriga Capital Corp. , No. 148, 2012 (Del. Supr. Nov. 7, 2012) (Per Curiam). Issue Addressed Delaware's High Court held that the manager of an LLC violated a contracted-for fiduciary duty that adopted the equitable standard... Read More